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tv   MONEY With Melissa Francis  FOX Business  October 18, 2012 5:00pm-6:00pm EDT

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how will the fighting impact the flow of oil in the middle east? even when they say it's not, it is always about money. melissa: let's take a look at the market headlines. the dow breaking a four session winning streak. google's botched earnings release really weighing on stocks. the blue-chips closed down eight points. despite beating estimates for fiscal first quarter, shares of microsoft are falling after-hours. the company reported a dip in sales in computers running windows operating software. travelers was the leading gainer on the dow. the insurer reported better than expected third quarter earnings. its profits were lifted by a sharp decline in disaster insurance related costs. google taking a huge hit today as we said. it has been the huge story of the day. first a draft of their earnings was leaked into the
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middle of the day, they say without authorization. the stock just tanked on that, losing 22 billion in market cap. then google released the full report which fell far short of expectations. as the google conference call is underway, with me to break it down, ted weisberg, seaport securities. we have fox business's adam shapiro who is hard at work on this all day. adam, i want to start with you. i was late coming down here listening to the call as well. what jumped out at you? >> honestly what jumped out at me how frail and weak larry page's voice sounded. a lot of people will be talking about that. good to see you, teddy, by the way. the issue here is this is company depending if you're pro or con, if you're pro google, this is company despite hits they're taking on motorola, moving out of its realm of advertised based revenue generator at your computer and at your pc and they talked about this a
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few statements from larry page. incredibly excited about the opportunities ahead. that is a no-brainer. you expect him to say that but great products that are defining the future. he is talking about the nexus 7 and tablet they hope will give real headaches to apple but they also talked about, and this was a figure, you can mess with a run rate but he talked about an $8 million mobile run rate last year -- 8 billion. only included revenue from mobile ads but revenue from google play content and consumer spending across the applications you can get at google. this is where they're putting their future. to put it into contextings facebook is saying they're trying to figure out how to monetize mobile devices. google putting a strategy that is painful, you see it in the numbers but if you're an investor this is kind of thing that might pay off down the road. melissa: i want to ask you about larry page because i was really struck by how he sounded on the call. let me bring teddy in. you're a trader with 43
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years of experience. what do you think happened today? the release came out. it was clear it was incomplete. there was a part that said insert quote from larry page there. how often in your years of trading have you seen something like this happen. >> it does happen and clearly it was an embarassment it didn't change the numbers. numbers would be the same whether they got released after the close or during the trading day. clearly the expectationtation was they would release the numbers after the close so they had to do --. melissa: blamed the printer . what do you think about that? is that -- >> well like shooting the messenger but the numbers are still the numbers. my guess is the stock probably would have had a similar reaction because that earnings miss was a huge earnings miss no matter how you look at it and completely unexpected. melissa: adam, let me go back to larry page. i was sort of thunder struck as well when he got on the call and heard his voice. there has been a lot of mystery around what is going on, right? >> absolutely.
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this is, you know, we have seen a very influential ceo's fight for their health in the past. and people might be asking, today and tomorrow, we need some clarification on, you know, where does larry page stand healthwise. getting back to what teddy is saying real quick about numbers? melissa: yeah. >> they were blaming some of this miss on currency fluctuations which seemed like kind of a cheap thing because everyone has to deal with that. at the end of the day the revenue picture wasn't as strong as it needs to be right, teddy? melissa: currency fluctuation between, we're looking for, they reported $9.03 and street was looking for 10.65. that is a lot of currency fluctuation. >> i refer to currency fluctuation as code word for business stinks in europe. that's all that means. and we started to see that in the first quarter of this year with dupont, when they started to give guidance and they're worried about currency fluctuation. that is all that is.
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that is code word that business just is not good in europe. melissa: adam, how essential is larry page to this company? you don't even want begin to draw comparisons and steve jobs in that situation? >> right. melissa: investors are asking for a while. he has an illness. he has absent. they have not been giving a lot of color. how essential is he to this particular business? >> i would say he is crucial to this business the way steve jobs is crucial to apple and the way bill gates is critical to microsoft years ago. this is the visionary and one of the creative team that created this huge successful company. that is the person with the leadership and who has the vision and motivation to make things happen. hearing larry page talk about the need for hardware and going forward with motorola and not taking the shots that they're taking because of the acquisition is important. could someone defend that kind of move the way he can? he sees the future. it is his vision. melissa: yeah, go ahead.
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>> listen, at the end of the day i think google is still a great company the flip side of this is this earnings miss, though very dramatic and clearly unexpected and we'd like to find out what caused the miss, what really caused the miss, could in fact create a buying opportunity. melissa: i was going to say. sounds like you're saying this big decline we saw, at one point it was down 10 1/2%, opportunity? >> well, somebody's problem is somebody else's opportunity. that is the way the gail is played. melissa: yeah. >> i mean i don't know. i'm not an analyst. i don't really follow google but, you know, companies --. melissa: come on, 43 years trading experience. >> 43 years trading experience tells me that companies miss. if you do your homework and know your companies sometimes those misses are opportunities. melissa: we've got to go. teddy, thank you so much. adam, you're fantastic. you've been killing this story all day. thank you so much. for the second week in a row there are questions about the weekly jobs numbers, specifically the data coming out of california. we are asking the experts,
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should you trust the information being reported? joining me now to crunch the numbers, paul conway, former labor department chief of staff and "reason" magazine editor-in-chief mat welch. thanks to both of you guys for joining us. i just want to go you there the facts here because there's a lot of confusing information that's being reported and get both your take on it. this is reported by reuters and a lot of the other sources a labor department official said it appeared to be a state level, appeared state level administrative issues were distorting the data. matt, what do you think of that, let me start with you? >> the state has denied that pretty vociferously and said our data was good and it was handed in on time and united states labor department has disputed that. i think the bigger 10,000, 30,000 foot view level is that regardless of whatever it was, it was an anomaly. we're not going to see consistent, good numbers, coming out of california. we've seen the follow on numbs members. melissa: how do you know that?
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follow-on was not that different. we expected a huge revision. we didn't see a huge revision. maybe things are getting better. paul, what do you think?. >> i think matt's correct. hear is the most important thing the weekly number is a source of a lot of focus but the most important number is the monthly. going back to the weekly number as the labor department said you will see aberrations from time to time. number of reasons why states are late. they don't have enough stuff staff. sometimes there is vacation day during the week and sometimes states don't file on. when you have a big drop that is automatic red flag. they will point fingers at each other. what happened was 30,000 less unemployment insurance claims are reported. you had a seasonal adjustment factor kick in that drove it further down. today you're looking at a pretty high figure as well. the point i tell folks to focus on look at the rolling average is for unemployment insurance claims and that's still sitting right about where it had been around 365,000.
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melissa: yeah. paul, let me ask you, the labor department said that california was the only state in the week ending october 6 to report a decrease in claims of more than a thousand. you're a former labor department chief of staff. does that sound like there is a mistake in there somewhere? >> it's a big economy. it's possible. the thing i would focus on are the two areas which they said that occurred. one was in retail and i think the other was in hospitality which can be impacted by seasonal activity. so, i think the other thing that's important for viewers here to understand this. there's a level of accountability and when you take a look at the bureau labor statistics their reports are based on state filings. you will get arguments back and forth but the civil servants i think are doing fine on this. the level of accountability has to be kicked up to the secretary who must insure two or three weeks out from an election that the data is accurate and that states have been told, very clearly make certain everything is filed on time so that the american public, wall street and investors don't get thrown off by any potential
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back and forthwith the state. melissa: matt, would you bet that's being done? >> i would hope that's being done. i never ascribe to government's intelligence what can be explained by incompetence. i think that holds true especially in an election season where we get super excited about every number that comes out every 24 hours. big picture california has the third worst unemployment in the country. it lost 66,000 jobs in the month of august even as its unemployment ticked downward to 10.6%. it's been a basket case for a long time and there's nothing to suggest that it won't be a basket case in the near future as well. melissa: paul, one of the allegations they're not counting all the claims that pile up at the beginning of a new quarter. there some mechanically, can you understand how that would be possible? >> there is a potential for that, if you don't have simple things like enough manpower to do that. if there's a delay in any of reporting from other areas. there are human factors that absolutely get involved in that. but i would tell folks,
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we're 19 days out. a lot of caution there. but responsibility for making this stuff abundantly clear at point reported to the public is the secretary's responsibiiity, no doubt about it. melissa: i hear you. i want to lay this to rest once and for you will. put you each on the spot. matt do you believe these numbers? >> i believe, who knows. yeah, sure. i believe, i don't think anyone's deliberately lying and california has a story, hey look, it was unseasonably warm the i know that sound strange but it was unseasonably warm in california. melissa: it was. >> that could have impacts things like retail. melissa: paul, quick the bottom line before we go. do you believe the numbers. >> on this pass i do believe the numbers. melissa: gentlemen, thank you for coming on. we appreciate it. so is mitt romney an enemy of the coal industry? president obama is trying to pull a major switcheroo on the campaign trail. murray energy ceo robert murray joins us in a fox business exclusive coming up next. more "money" coming up. ♪ 4g lte is the fastest.
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so, which supeast 4g lte service would yochoose, based on this chart ? don't rush into it, i'm not looking for the fastest answer. obviously vezon. okay, i have a different chart. going th way, does that make a difference ? look at verizon. it's so much more than the other ones. so what if we just chang the fo? isn't that the exact same thing ? it's pretty clear. still sticking with verizon. verizon. more 4g lte coverage than all other networks combined.
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♪ . melissa: both candidates making a huge energy push right now and president obama is working pretty hard to paint governor romney as an enemy of the $48 billion
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coal industry. here's what he said at a rally yesterday. >> when he was governor, stood in front of a coal-fired plant, and said, this plant kills people. and now he is running around talking like he is mr. cole. did you see what he was doing in that ad? he is front of all these miners with hard hats? found out later they had to come. boss made them come. melissa: hmmm. is that any truth to this? with me now in a fox business exclusive, is that boss, the one the president was talking about, the ceo of murray energy, robert murray. thank you so much for joining us. and tell us, did you force your workers to go out there and stand there with mr. romney? >> of course not, melissa. and friday, 500 miners from that mine signed a letter to barack obama and said, mr. president, why are you
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lying about 500 coal miners? what he had done is put that statement in an ad in ohio. it's absolute lies. these miners were outraged, melissa. they were like caged lions. and they spoke out. there was not a management person involved in those 500 letters. they had a press conference, and they asked him to stop the ad, and to stop lying. none of it's true. melissa: do you have any idea how it got to that point? i mean have you heard any response from them at all? from the president or from his campaign? >> no, ma'am, i hadn't. we thought by now he would pull his dishonest ad but he has not. and, our miners, are quite outraged about that also. they just want to work in honor and dignity, melissa, and they felt like pawns
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when these lies were spread by the democrat party, and then put into an obama commercial and they're outraged. and a lie is a very strong word and they said, in the letter to the president, why are you lying about us? melissa: that's incredible. i think we do have some of the letter there, you know, where they basically said they weren't forced to attend the rally. no attendance records were kept at the rally for an hourly employees. there were no penalties or punishments for workers who didn't attend. they're still expecting a response from the president, from the campaign, an apology of some sort? what would make this better for your workers? >> well, i think first of all retraction of the ad and an apology. it would also be good if he support coal. is the greatest enemy of the coal industry have ever had. they're frightened, melissa. they're scared.
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their jobs are at stake. he has closed down 204 coal-fired plants in the uniied states. melissa: i'm sorry, because i just want, we hear all the time, you know the president saying that he is a friend of coal and you say he is not. he has closed these plants. why is he responsible for closing these plants as opposed to epa being responsible or cheap natural gas, for example? why is it his fault? >> when he said on january 17th though can build coal-fired plants in america but i will bankrupt them. they are making good on that. joe biden made good on that. he owns lot of debt to environmentallal constituency and a lot of debts and he is paying those back. ma'am, that is not just a coal mining issue. 95,000 megawatts in those four plants, that is 4 cent kilowatt-hour electricity in america while he pretty moats his 22 cent and solar
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power if the wind blows and sun shines plus 24 cents an kilowatt-hour from the taxpayer. what obama is doing is destroying low cost energy in america. people will not be able to pay their electric bills. and people that manufacture a product for the global marketplace are not going to compete with china because they have been building a new coal fire the power plant every week for years, 4 cent kilowatt-hour. ma'am, in the pjm interconnection where the utilities sell incremental power costs the power cost for 2015, 2016, are up 800%. is destroying low cost electricity in america. for his constituents. melissa: how do you know mitt romney will be a true friend of coal? he is obviously alleging the opposite? >> well, i have spent a great deal of time with governor romney. he gets it.
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he is a friend of the coal miner. but, remember, those were 500 miners that signed that letter to obama, saying stop lying, and they also said, in the letter, that it was a great day and we were honored to have him a friend of coal. the miners know. melissa: robert murray, thank you so much for coming on your show. here is our question of the day. how big a role do you think energy policy will play in the outcome of the election? we want to hear what you think. you can like us on facebook.co facebook.com/melissafrancisfox or follow me on twitter at melissa a francis. time for the fuel gauge report where we break down the biggest headlines affecting energy industry and their impact on the economy. first up, transcanada is temporarily shutting down the operational portion of its keystone pipeline for three days. the company blaming quote, a small anomaly for the move.
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the pipeline moves 590,000 barrels of day of crude from canada to the midwest. the shutdown helped reverse early session losses for oil prices. crude finally settled down just two cents at $91.10 a barrel. a u.s. trial date has been set for object 13th, 2015 for a residents of ecuador and chevron. an ecuador judge awarded $19 billion judgement last year over pollution damages. exxon alleges that the plaintiffs and their lawyers committed fraud to help the case. exxon looking to sell its biggest oil asset in iraq according to reuters. exxon is wary of smaller profit prospects from the $50 billion project in southern iraq. is president obama about to copy this guy? [shouting].
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details how the president is ready it take a dive off the fiscal cliff coming up next. syrian rebels blow up two oil and gas pipelines while reportedly getting their hands on advanced new weapon systems. we'll tell you what it could mean for middle eastern security. do you ever have too much money? ♪
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melissa: president obama is ready to take an economic plunge that would make fearless felix shutter. there he goes. the president says he will veto any legislation blocking year-end tax hikes and spending cuts unless there is tax hike for the rich. get ready to grab your parachute. we're getting closer and closer to jumping off the fiscal cliff. joining us pete snyder, fox
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news contributor and chairman of virginia pictory. thanks for joining us. all that can not possibly fit on a business card. >> not at all. some of it is extracurricular. melissa: okay. president obama says he will veto anything that doesn't have a tax hike for the rich. feels like we're going off this fiscal cliff. is that wise? >> not at all. think could be the first double downgrade president that we've had in nearly 100 years if not more. barack obama, i just don't understand the logic. he got whooped in the 2010 elections an came out of that, and said, you know, our economy is in such bad shape, i'm going to allow the continuation of the these tax breaks, and this tax relief. what our economy is in worse shape now, melissa. melissa: it is in terrible shape but there is tons of blame to go around. everybody who is, everybody who works in washington
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shares blame for what is going on right now, especially for not putting on their big boy pants and coming up with a solution before we get this close to the cliff. so -- >> melissa, i don't disagree with you at all on that. but i believe in truth in advertising. i'm a former marketing exec. in 2008, we heard time and time again, millions of americans bought into the concept of home and change and much more so, a president that was actually going to change the culture of washington and was actually going to unite the country versus dividing. and this is a president that had unlimited power, total control of congress for the first two years. decided not to be a uniter. and ramrodded obamacare, didn't focus on the economy at all, and, now, is complaining that he can't, quote, unquote, change washington? melissa: i mean it is definitely a huge mess. what do you think is the solution? is there a compromise that can be had before he go? we had the clock up. look at bottom of your screen. we've got 74 days, six hours,
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29 minutes, oh, no, now only 21 seconds until we go flying off the side of that cliff. is there a real solution? what do you think are the odds that something gets done? >> melissa, there's a very clear solution for all of the quote, unquote, shareholders out there, in america. the voters. which is, you know, if the united states of america were a publicly-traded company, the board of directors would fire this president because, for his record, for what was promised on the way, on the interview into the office. melissa: yeah. >> and for the dismal performance since. so in 19 days we have a mechanism that can fix this. i guaranty you, melissa --. melissa: meantime companies are already preparing, putting together war rooms based on the fiscal cliff? >> sure. melissa: they're roar dealing with costs. and if s&p and moody's
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downgrade the country before these idiots get together and do something about it we could see the same kind of damage we saw with the debt ceiling, which even the government blamed for slower gdp growth. a lot of people say that's why the economy, one of the reasons why we haven't recovered quicker as we normally do out of a deep recession like this is because of the debt ceiling crisis and now the fiscal cliff crisis. >> again it goes back, melissa, to leadership. i think there is plenty of blame to go around in washington. but any corporation, or any country needs a leader who is willing to take action, and also bring folks together. that is actually why governor romney was so successful as a governor. you know, he had 87% of the statehouse in massachusetts. democrat, they didn't want the guy to succeed. he reached across the aisle and actually got a whole heck of a lot of things done. that's what we need in america. melissa: we've got to go.
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pete, thanks for coming on. >> thanks, melissa. melissa: rebels blow up two syrian oil and gas pipelines near iraq in the wake of massive government airstrikes. could iraq's looming oil production soon be at risk? we have details on that coming up next. piles of money coming up next. ♪ bob...
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melissa: onto the middle east, rebels in syria today blowing up two major oil and gas pipelines located dangerously close to iraq. iraq is on track to double its oil production by the end of the decade but could the escalating violence spill over the border? what are the implications for middle eastern energy security? those same syrian rebels, also suddenly obtaining advanced anti-aircraft weapons from unknown sources, threatening an already unstable regime.
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joining us now, is middle east expert in foreign policy and national security senior advisor to mitt romney, walid phares. thank you for coming back to the show. we appreciate your time. let me start with the weapons that we were just looking at there. where do you think they're getting those from? >> the rebels in syria are getting weapons wherever they can from the depo of syrian army where they captured them but also from other groups in the middle east including now as we learned from jihadists or islamic militia in libya. there was a ship docking in a turkish port and the weapons were destinned to militias inside syria. they're buying everywhere they can and getting funds from everywhere they can including from the gulf to fight the assad regime. melissa: what are the long term implications of that? of course the theory is the u.s. didn't come in and support them when we could have. now they're turning to other sources that may be our enemies to try to drum up the weapons they need? >> well within the rebel force, we need to learn
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lessons from libya, win the syrian rebel force, you have secular people, dissidents from the syrian regime from the free syrian army and you have islamists and muslim brotherhood and some are linked to al qaeda. the fact they were linked two years, 2011 and 12 that we'll deaf sigh arrive jihadists in syria whatever the you'll comes of battles in syria. melissa: the reason we're call talking about this on show called "money", the oil traders are blaming this conflict driving up oil price in the region because they believe it will spill over into iraq because it is trying to build up its oil industry. what do you think the likelihood of that? >> unfortunately, melissa, those forces are on target. the groups that rebel, not rebel abouting blowing up pipelines they're close to the iraqi-syrian borders eventually will have their
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colleagues inside iraq, jihadists inside iraq attack pipelines and even potentially infrastructure of oil in southern iraq. so we have to be very attentive, the business community, particularly the financial sector there is war between jihadists of syria and iraq including that potential of oil in iraq and iran may respon respond respond to that, guess what, not in iris i can't. we're at prelude time of dangerous developments in the region. melissa: tell me more about that. that seems like the next logical conclusion, the iraq is embroiled in this, iran is embroiled as well. >> those attacks against iraqi pipeline into syria, are going to lead to attacks ends guess iraqi oil infrastructure inside iraq. iraq is the ally potentially of iran. and iran is going to say, hey, the gull, you are funding those rebels in syria. i'm going to send my own terrorists, guess where? eastern arabe yaw where most of the saudi oil is, into kuwait.
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we're talking about dangerous situation for the world economy in the next few weeks or months. melissa: is there anything we can do at this point or is it too late for the u.s. to get involved? >> it is too late for this administration to get of the very. i hope it would change its policy. we need a new administration to change its policy vis-a-vis iran. that's what we need to have. melissa: walid phares. thanks as always. >> thank you, melissa. melissa: a new novel attacks the dark underbelly of wall street. douglas brunt, the author of, ghosts of manhattan joins me next. at the end of the day it is always about money. ♪
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melissa: so remember the salad days, the good times on wall street. boy, the 2008 financial collapse? the new book, ghosts of manhattan takes readers back with events taking place as seemingly unstopable bear stearns well before dodd-frank or occupy wall street. it is a look inside a guilded and jaded lifestyle few experience or even know much about. joining us me, author
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douglas brunt. thanks for coming on the show. i read the book. i love it. it is a real inside wall street account of the excess and the lifestyle that i think a lot of people who are outside, even lower manhattan, don't necessarily know about. how do you know so much about it? >> i have, i did both primary and secondary research for this, but mainly primarily throughha bunch friends on themselves in this book? are you in trouble now? >> none of the characters in the book are associated directly with my friend and people i know. it is a amalgamation of stories they helped me shape and i had the front row seat for decade plus in talking with them. melissa: you draw a direct line between the life-styles and even the values, of the folks that are trading bonds. even though what happened you do say there is lot of blame to go around. there are people bought houses you couldn't afford. the government pushes loans on people or promoted
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homeownership as a value. but does it do good to go back and sort of developfy folks after the fact as we're trying to klein up the mess -- vilify. >> the novel vilifies the system much more than any individuals. there's a line in the novel from a character who says, if you compensate a person based on volume, he is going to give you volume. it's the same as greed is good argument. greed is good because it creates predictable behavior. executives can manage predictable behavior to a successful outcome and what, if you look at all the players leading up to the financial collapse in '08 everyone acted exactly as you predict, instead of moody's and standard & poor's out to lunch. traders at bear stearns. all folks aig, writing derivatives and underwriting insurance acted according to their job description in a way to maximize their bonus. you can't fault anyone for that. it was the system that controlled behavior that failed. melissa: that begs a very
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obvious question. has anything changed since the financial collapse? do you think the system has changed? do you think the behavior has changed? >> no, to both. i think they're making some efforts. the main problem with compensation is that there's this lack of alignment or insufficient alignment between the time horizon for how trader as activities are compensated which is annual january bonus versus the time horizon for the effects those activities have on the long are view of a company's health. so, for example, 2006, 2007, were years of record bonuses on wall street. lehman brothers paid out record bonuses. melissa: right. >> and much of those bonuses paid out were on trading activity that led to the firm blowing up in the following year. melissa: yeah. what made you want to fictionalize what happened in real life? that is what i think is most interesting about this book. there are so many accounts out there right now of the actual time, that can be kind of boring? this is great way of learning about what happened
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and really understanding it, but getting wrapped up in a fiction where i read it, basically overnight, is one of those books that grabs you. what made you want to fiction alize it? >> it is not a personal story. it is about the collapse but about a bond's salesman's personal journry during the collapse. people want to learn something. that ear a is fascinating. i think for the first tile, if you looked at 2007, the number of people who had even heard the name bear stearns or lehman brothers or this thing called the fed can do things and look at that same thing in 2009 it was tenfold more. these issues became headlines not just on business news but all news after the 08 collapse. people want to learn more about it and it is interesting to take a personal journey anyone of us could have and set it within this context. melissa: douglas brunt, ought or of, -- author of ghosts of manhattan. it was a great read. >> thanks for having me.
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melissa: it is an age-old rule. pick up the food off the floor. five seconds, only five seconds since you dropped it. it is all good, right? wrong. why the five-second rule no longer applies. details coming up next. you can never have too much money or too many germs i hope. 4g lte is the fastest.
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so, which supeast 4g lte service would yochoose, based on this chart ? don't rush into it, i'm not looking for the fastest answer. obviously verizon. okay, i have a fferent chart. going that way, does that make a difference ? look at verizon. it's so much more than the other ones. so what if we just changed the format altogether ? isn't that the exact same thing ? it's pretty clear. still sticking with verizon. verizon. more 4g lte coverage than all other networks combined.
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♪ . melissa: we're rocking out. time for spare change today. we have fabulous attorneys, mercedes colwin and joey jackson. go ahead and dance. there you go, yeah. we're rock inout. first up, people listen up, the five second rule, no longer applying. researchers have discovered that germs really do attach themselves to food within five seconds being dropped. funny enough researchers also found that 65% of parents use the five second rule in their holes. i think only 65% admitted it. what do you guys think? five second rule? come on? >> never. >> this is dispointing. you mean the lunch i left on the floor for an hour i shouldn't have eaten it? unbelievable. >> other sushi. please, how many times my mother went, put it in my mouth. don't worry about it. there are no germs attached.
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no, no. not even a second. >> okay, it's all good. melissa: i don't know -- >> germ is a state of mind. melissa: just depends if the food is wet or dry. if it is wet and hits the ground. that is disgusting. >> how many preservatives though? melissa: it is a cookie. >> twinkie, the preservatives will kill the germs. no problem. >> whether the food is good or not good. if it is good i'm eating it, five seconds or not. melissa: you win. it is the end of an era, after 80 years "newsweek" is dropping the print version completely. by the end of the year they will being digital only. december 31st issue will be the very last one ever. i mean what is the dentist office going to do? "newsweek" is like the staple of, because so neutral. i guess that's why it is going out of business because it is so neutral. >> i'm really disappointed. i'm tired of -- you have your ipad. i'm done. i want to see it in print. >> i want it right here. i want to take it with me
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wherever i go. it is all good. i can print, do whatever i want to do. melissa: you're saying the magazine, "newsweek" magazine can't put that in your bag? >> i'm all good with it. this is what happens. with this you can everything at your fingertips. >> not so. i want it in print, okay? call me old-fashioned but i do. melissa: i get my "new york post" in the morning. i love the way it feels. go to page six to see what is going on. >> i read cartoons still. i'm in trouble. i'm in trouble. melissa: the post, my friends that is dangerous. >> they're coming to get me. i love you, post. melissa: yes. moving on, ashton kutcher is highest paid tv actor. how is that possible? this is according to the forbes. last year kutcher made, get ready for this, $24 million. come on! he took over the lead role on cbs's "two and a half men" after charlie sheen left in quotation marks. he also invested in some silicon valley startups like skype and spotify.
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i don't know, are you impressed? >> isn't this the same guy that wore his scivvies for a long time? calvin klein model? making $24 million. give me a break. >> remember this, winning? who is whipping now? remember that? he is fabulous. he is wonderful at what he does. charlie is wonderful what he does. make your money enjoy it. >> go back to doing underwear. melissa: i don't know what is going on with you two. oh, my goodness. >> she's the greatest. melissa: scoot you over a little bit over here. next up, the association for pet obesity prevention, that's a real group? they smilt for that submit more than 50% of dogs are overweight. they make dog food instead of personal dog food. doesn't everyone else do that. even worse, letting them eat off the table. would you cook for your pet, look at that.
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he looks a little -- >> looks a little chunky. that was a chihuahua. that is 10 pound dog, 50 pounds. >> i do it on treadmill. melissa: no, you don't. >> that is not true. the cat watches what it eats as everybody else in the house. keep you fit and trim. melissa: i don't know about that. i mean, those dogs were enormous. that guy, that guy needs a little workout. >> unbelievable. melissa: that is pretty cute. >> i would never cook for my dog, would you, melissa? melissa: i barely cook for my kids. here is something that happens every day. a florida paleontologist was arrested for, get this, smuggling a 70 million-year-old dinosaur skeleton out of mongolia. the bones were recently auctioned off for more than a million dollars but were then seized by the government. authorities uncovered this one man black market in
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prehistoric fossils. >> am i missing something? should i get a new hobby of going to steal bones in another country and smuggling them back? are you serious right now? >> a million bucks, joey. obviously there is market for it. >> apparently. being prosecuted too? melissa: sound like there is a good market for it. how do you smuggle that back into the country? that is like a really big raincoat. how did he get through security? look at that. did you get all that in your carry-on? >> it is amazing, got to tell you, bones, what will someone think next? guess what evidence it is, melissa. they have photographs of him digging up these bones. really? >> reconstrucc in the the courtroom. melissa: where did he go to sell them? he is having a black market sale like ebay? was he in his garage garage, old stuff in the garage? cleaning it out. >> the galleries pay millions to get it and put it on display for the government to take it away saying it's illegal, criminal
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possession of stolen property. >> how much trowel is the guy in? how much trouble? >> grand larceny. >> they want him for more based on all the bones taken in 30 years. melissa: that was fun. you can hold hands again, it's safe. that's all the money we have for you tonight. we'll see you tomorrow, and "the willis report" is next. gerri: government spending explodes under president obama. the dozens of programs topping a trillion dollars of spending a year. investors whacked by trouble in the markets. google fumbled the earning report. welcome to with "the willis rep" ♪

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